RBI Circular Notification Press Release and Instructions issued by Reserve bank of India. News and Article on provisions, Rate changes, Policy changes and FAQ
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The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals required, if any, under any other law.
Government of India has vide their Notification dated March 25, 2014 notified that the maximum limit for investment in Inflation Indexed National Savings Securities- Cumulative has been increased to Rs. 10 lakh per annum for eligible individual investors and Rs. 25 lakh per annum for Institutions such as HUFs, Charitable Trusts, Education Endowments and similar institutions
Agency banks doing Government business alone will be permitted to present instruments in the Special Clearing on other participating banks. Other member banks of the Clearing House (including the presenting banks) are required to keep their inward clearing processing infrastructure open during the Special Clearing hours and maintain sufficient balance in their clearing settlement account to meet settlement obligations arising out of the Special Clearing.
The extant guidelines for Portfolio Investment Scheme for Foreign Institutional Investor (FII) and Qualified Foreign Investor (QFI) have since been reviewed and it has been decided to put in place a framework for investments under a new scheme called ‘Foreign Portfolio Investment’ scheme.
The designated branch of an authorised dealer may allow remittance of net sale proceeds (after payment of taxes) or credit the net amount of sale proceeds of shares / convertible debentures to the foreign currency account or a Special Non-resident Rupee Account of the registered Foreign Portfolio Investor concerned.
The main objective of the study was to trace the reforms which have been put in place during the last decade in the corporate bond market in India and consequent developments. In addition, the study analysed the experience of other emerging and developing economies (EDEs) at similar stage of development, such as Japan, Korea, Singapore, Malaysia and Brazil, to capture lessons in relation to the development of Indian corporate bond market.
Banks should sensitize the members of public that the pre-2005 notes would continue to be legal tender. Banks should endeavour to organize note exchange melas in semi-urban/rural areas. All denominations of banknotes issued prior to 2005 series have to be exchanged.
Withdrawal of Currency Notes in Circulation The Reserve Bank of India (RBI) has announced the decision to withdraw from circulation all currency notes printed prior to 2005. It is a standard international practice to withdraw old series of banknotes from time to time. The reason for withdrawal of banknotes printed prior to 2005 is to […]
In view of the difficulties faced by exporters / importers in meeting the condition firm irrevocable order backed by a tripartite agreement should be in place specified in the above mentioned Circular, it has been decided that this requirement may not be insisted upon in case where documentary evidence for circumstances leading to third party payments / name of the third party being mentioned in the irrevocable order/ invoice has been produced.
Net Stable Funding Ratio (NSFR) is one of the two new liquidity ratios introduced by the Basel Committee on Banking Supervision (BCBS) after the financial crisis that began in 2007. NSFR defined as percentage ratio of available stable fund to required stable fund divulges liquidity risk in medium and longer term horizon and should be greater than 100.